FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
expand_more
expand_more
format_list_bulleted
Concept explainers
Topic Video
Question
3. Equivalent units of production based on FIFO are: 100,000 units material, 90,000 units conversion. Beginning inventory costs are: material, Php5,000; labor, Php4,000; and overhead of Php8,000, Current costs are: material, Php45,000; labor, Php80,000; and overhead of Php118,000. The unit cost of material is:
A. Php 0.45
B. Php 0.50
C. Answer not given
D. Php 1.40
E. Php 2.33
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by stepSolved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Conversion cost per unit equals $4. Total materials cost equal $89800. Equivalent units for materials are 10000. How much is the total manufacturing cost per unit? $8.00. $12.98. $4.00. $8.98.arrow_forwardABC Corporation estimates handling cost at two-act levels:arrow_forward0 Cost per Equivalent Unit The cost of direct materials transferred into the Rolling Department of Oak Ridge Steel Company is $468,000. The conversion cost for the period in the Rolling Department is $280,250. The total equivalent units for direct materials and conversion are 2,600 tons and 4,750 tons, respectively. Determine the direct materials and conversion costs per equivalent unit. Direct materials cost per equivalent unit: Conversion cost per equivalent unit: per ton per tonarrow_forward
- Cost per Equivalent Unit The cost of direct materials transferred into the Rolling Department of Oak Ridge Steel Company is $462,800. The conversion cost for the period in the Rolling Department is $286,700. The total equivalent units for direct materials and conversion are 2,600 tons and 4,700 tons, respectively. Determine the direct materials and conversion costs per equivalent unit. Direct materials cost per equivalent unit: $fill in the blank 1 per ton Conversion cost per equivalent unit: $fill in the blank 2 per tonarrow_forwardIf works cost is Rs. 40,00,000 and office overheads are 20% of cost of production then what is cost of production? Oa. Rs 50,00,000 Ob. Rs 48,00,000 C.Rs 55,00,000 Od. Rs 32,00,000arrow_forwarde. $5,752.10. Company XYZ has total prime cost of $21,000 and total conversion cost of $42,000. Assume that manufacturing overhead cost is three times the direct labor cost, how much is the direct materials cost? Select one: O a. None of the given answer O b. 21,000 O c. 10,500 O d. 12,000 O e. 31,500arrow_forward
- Cost per Equivalent Unit The cost of direct materials transferred into the Rolling Department of Kraus Company is $459,000. The conversion cost for the period in the Rolling Department is $303,800. The total equivalent units for direct materials and conversion are 2,700 tons and 4,900 tons, respectively. Determine the direct materials and conversion costs per equivalent unit. Direct materials cost per equivalent unit: $fill in the blank 1 per ton Conversion cost per equivalent unit: $fill in the blank 2 per tonarrow_forward5) A production company with an annual normal production capacity of 4,800 units/year calculates its costs according to the normal cost method. The enterprise has actually produced 300 units/month in April 2021. The production costs of the enterprise for the period of April 2021 were realized as follows, according to the full cost method.Direct Raw Material and Material Expenses(D) 3.000.-₺Direct Labor Costs(D) 2.700.-₺General Production Expenses(D) 2.400.-₺General Production Expenses (S) 2.000.-₺Required: Business:a) Calculate the “Unit Cost of Goods Produced” for the period of April 2021.b) If the "Actual Production Amount" for the period of April 2021 was 340 units/month (assuming that other data remain constant and unchanged), calculate the "Unit Cost of Goods Produced". A. a) 32.88.-₺/br ; b) 32.00.-₺/brB. a) 33,66.-₺/br ; b) 29,70.-₺/brC. a) 32.00.-₺/br ; b) 32.00.-₺/brD. a) 32.00.-₺/br ; b) 32.88.-₺/brE. a) 32.00.-₺/br ; b) 28,82.-₺/brF. a) 27,41.-₺/br ; b) 24,24.-₺/brarrow_forwardA department has total conversion costs of $153,300 and total materials costs of $250,025. If the department has 36,500 equivalent units of production for materials and 73,000 equivalent units of production for conversion costs, what is the total manufacturing cost per unit? O $11.05 O $8.95 $9.50 O $2.65arrow_forward
- A manufacturing department has 50,000 EUP for units completed and transferred out and 4,500 EUP for units in ending inventory. Materials cost is $2.50 per EUP and labor/overhead cost is $3.75 per EUP. The total amount transferred out is $arrow_forwardPrime cost is 236000 OMR, and cost of production for the year is 298420 OMR Opening stock of work in progress is 12000, and closing stock of Work in progress is 13500 OMR, Opening stock of finished goods is 20000, and closing stock of finished goods is 14000 OMR, Cost of goods manufactured 958000 OMR Calculate unit production cost if total manufacturing units as 2500 a. 121.368 OMR per unit b. 120.368 OMR per unit OC 119.368 OMR per unit O d. None of Thesearrow_forwardIn the manufacture of 9,400 units of a product, direct materials cost incurred was $177,400, direct labor cost incurred was $106,100, and applied factory overhead was $43,600. What is the total conversion cost? Oa..$149,700 Ob. $327,100 Oc. $43,600 Od. $177,400arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
- Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSONIntermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill EducationFinancial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education
Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON
Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education